YPOhttps://www.ypo.org
YPO is the Premier Chief Executive Leadership Organization in the WorldWed, 21 Feb 2018 21:46:38 +0000en-UShourly1https://wordpress.org/?v=4.9.4Not all business advice is equal. Wouldn’t it be great if you could learn directly from the CEOs, managing directors and presidents of the most successful companies in the world? Tune in each week when Inc.com columnist Kevin Daum brings you fun and compelling interviews with the world’s top executives of YPO, presented by Gazelles Growth Institute. In just 10 minutes, you’ll get real insights and practical tips for being a great business leader. Get to know the real stories and learn the human-side of what it really takes to be the person in charge. New episode coming every week. www.ypo.org. Made possible with grants from Gazelles Growth Institute. www.GrowthInstitute.com. <br />Kevin DaumKevin Daumtipsfromthetop@ypo.orgtipsfromthetop@ypo.org (Kevin Daum)2016YPO presents YPO 10 Minute Tips From The TopYPOhttp://www.ypo.org/wp-content/uploads/2016/02/10TT_Cover_DarkWhite.jpghttps://www.ypo.org
tipsfromthetop@ypo.orgNot all business advice is equal. Wouldn’t it be great if you could learn directly from the CEOs, managing directors and presidents of the most successful companies in the world? Tune in each week when Inc.com columnist Kevin Daum brings you fun and compelling interviews with the world’s top executives of YPO, presented by Gazelles Growth Institute. In just 10 minutes, you’ll get real insights and practical tips for being a great business leader. Get to know the real stories and learn the human-side of what it really takes to be the person in charge. New episode coming every week. www.ypo.org. Made possible with grants from Gazelles Growth Institute. www.GrowthInstitute.com. TV-GWeekly6 Tips on Knowing, Controlling and Communicating Your Storyhttps://www.ypo.org/2018/02/6-tips-knowing-controlling-communicating-story/
https://www.ypo.org/2018/02/6-tips-knowing-controlling-communicating-story/#respondTue, 20 Feb 2018 23:31:32 +0000https://www.ypo.org/?p=76824Storytelling expert Pattie Sellers shares how to craft your story by mining your own experiences.

We all come from someplace, traveled a particular path (circuitous though it may be) and landed where we are today as a byproduct. No two people in the world have done it the same, which is what makes every one of us unique.

“Everyone has a story,” says Partner and Co-Founder of SellersEaston Media, Pattie Sellers. “Even if you don’t think yours is particularly interesting, you would be surprised.”

A former assistant managing editor of “Fortune,” Sellers is renowned for her definitive interviews with and exclusive profiles of such leaders as Rupert Murdoch, Warren Buffett, Oprah Winfrey, Sheryl Sandberg and Coca-Cola Chairman Muhtar Kent. Sellers co-founded “Fortune’s Most Powerful Women” list in 1998 (now their most valuable franchise) and helps successful people, companies and organizations capture their stories for the audiences they want to reach.

“Leadership comes from facing challenges, overcoming obstacles, learning lessons – and a lot of luck and a lot of hard work,” says Sellers. “So that is what makes a good story – a person who learns. A person who learns from challenges and obstacles, applies them to their lives, stays flexible and moves forward.”

Sellers is a speaker at the March 2018 YPO EDGE in Singapore where she will share storytelling wisdom with attendees and conduct an interview with Singapore Prime Minister Lee Hsien Loong. Whether you’re working on a pitch about your company or interested in putting your life story down on paper for your family, there are some very simple ways to mine your experiences.

Here are some of the key insights for doing so, revealed by Sellers during a recent Facebook Live with YPO:

1. If you’re an aspiring leader or want to be a Fortune 500 CEO someday, do not try to shape your story. The most important thing you can do is be flexible.

“I talk about this concept of seeing your career as a jungle gym, not a ladder. This is more relevant today than ever,” says Sellers, who says leaders should always be on the lookout for opportunity. “In thinking of your career as a ladder, who knows if that next rung is going to be a secure rung? Five years ago, who knew that there would be job opportunities in AI and VR?”

2. Social media has changed the way we tell stories. Today, people can see everything. You must show your humanity and be authentic or you will be found out in a day. As a business leader, you must have credible storytelling with journalistic robustness.

3. It can be difficult to see the forest for the trees of our own lives; start from the beginning and tell your story chronologically.

4. When you first put pen to paper, consider the obstacles and challenges you’ve overcome, then organize them into no more than five buckets.

“The key is to find common themes,” says Sellers. “That will help you create, if not chapters, then themes for your books.”

5. Write a lede (an opening sentence or paragraph summarizing the most important aspects of your story) about your theme.

Whether you are crafting your company’s story, interested in being profiled in a magazine or feel compelled to capture your lessons learned for future posterity, use Sellers’ expertise to take the first steps.

]]>https://www.ypo.org/2018/02/6-tips-knowing-controlling-communicating-story/feed/0Tapping Into the Power of Vulnerabilityhttps://www.ypo.org/2018/02/76806/
https://www.ypo.org/2018/02/76806/#respondTue, 20 Feb 2018 01:29:43 +0000https://www.ypo.org/?p=76806Two business leaders explain how emotion, vulnerability and authenticity can transform teams and organizations through the power of human connection.

What attributes might an organization exhibit that would indicate it needs your book?

Kaplan: The organization may be a functional work group without being a powerful team. Perhaps the employees are operating in silos and are strong in those functions, but they are not cohering as a team and cross-leveraging their strengths. Or there may be an “elephant in the room”: something that nobody is talking about but is blocking progress. Or it may be just a feeling among the team members that the team can do more, but they struggle to identify what “more” is.

Manchester: Many organizations evidence a lack of trust. People wonder if they can disagree with the boss and still be valued. People must feel safe to speak their truth, and they are more likely to do so when they connect as a team. Building connections requires an investment in time, often with no obvious, direct return. The organization must trust that it will ultimately pay off.

What is the difference between being a boss and being a leader?

Kaplan: The boss is appointed, is typically at the top of the vertical organization, signs checks, and has authority to hire and fire. There is nothing wrong with that; the problem is when that person holds back the potential of others on the team. Leaders can be horizontal on the organization chart. YPO forum is a great example of this: any one or all of us in the forum can emerge in the power of leadership.

Manchester: The person who is willing to take a risk and step into his or her power is a leader.

You stress that people should be their “authentic selves” at work. What does that look like?

Kaplan: It means being present in the moment, stepping into your power, showing up, speaking out with full truth. It is connecting with others about real issues — what really matters to you, to the team and the organization — even if it creates tension. If we can talk with people about their bad days as well as their good days, we are more likely to be aspirational about our team. To go to our highest highs, we have to also be able to go to our lowest lows.

Manchester: People who are being their authentic selves are genuinely easy to connect with. They are willing to let their guard down and be imperfect. We often do not really know our co-workers as people. When we get to know them and what drives them, we can speak more easily and understand their perspectives.

Why is buy-in more important than agreement?

Kaplan: It goes back to being a leader versus being a boss. If I have to agree with my boss to keep my job, I will agree. But when a leader invites me to weigh in, I have the opportunity to speak my truth. This enables me at least to buy in — and buy-in leads to commitment, which is stronger than mere obligation.

Manchester: Agreement is a choice from the head; buy-in is a connection from the heart. Buy-in is passionate investment in the cause. It says, “I am all in.”

Why does this organizational shift need to be a revolution, rather than an evolution?

Kaplan: Because leaders, teams and cultures cannot wait for evolution. It needs to be a peaceful, organic revolution. There must be a few evocative leaders who believe the organization can do better than it is doing and who build concentric circles of leaders around themselves. Not everyone will be on board and some may have to leave. Too many teams suffer too long catering to the lowest common denominator.

Manchester: It is a cultural revolution in how we interact and connect in the organization. It is a journey that requires an internal revolution within each of us. We do not all have to be at the same place on the journey, but we must be on the same journey.

Of your 15 aspirational guidelines for team interaction, which is the most critical, and why?

Kaplan: This is a difficult selection, but I choose “I will actively listen.” It is necessary for everything else to unfold. When I am actively listening, I am listening with my head and my heart, listening to the spaces between the words. I am opening myself to connect with you.

Manchester: I agree. If I am distracted as you speak, then you will probably feel that I do not consider what you are saying to be important, and sooner or later, you will quit speaking up. Active listening can be hard for YPOers. We are natural problem solvers, so when we hear something that sounds like a problem, we start trying to fix it — and the minute we go into that mode, we stop listening. We need to pause that response and listen actively and empathetically.

]]>https://www.ypo.org/2018/02/76806/feed/0The Play’s the Thinghttps://www.ypo.org/2018/02/the-plays-the-thing/
https://www.ypo.org/2018/02/the-plays-the-thing/#respondTue, 20 Feb 2018 01:19:03 +0000https://www.ypo.org/?p=76803Bhavneet Singh, Founder and CEO of education company Sandbox, is a man on a mission: to create digital learning games which equip kids for the challenges of the future.

]]>Bhavneet Singh is a man on a mission: to create digital learning games which equip kids for the challenges of the future

“Sixty-five percent of kids aged under 7 will end up doing jobs in the future that do not exist today,” says YPO member Bhavneet Singh, Founder and CEO of education company Sandbox. “That’s a staggeringly scary statistic to know when you have kids.” It’s also a fact that drove Singh and his partners to create a company dedicated to helping children prepare for an unknown future through learning and play.

Singh insists that he’s not in the business of trying to replace what schools do. Rather, he wants to add an extra layer to kids’ education. “Teaching transferable skills has become increasingly important,” he says, “things like dealing with creativity, critical thinking, problem solving, innovation, ambiguity and conflict, these will be key.” Singh also believes that the education industry is not personalized enough. Millennial parents expect “super personalization of everything, they expect even commodity industries like transportation, water and electricity to be as personalized as their Facebook is.” They want tailored digital products, he says, adapted to their kids’ particular needs and which allow them to learn through their natural curiosity.

To that end, Sandbox, which launched just three years ago, has acquired and assembled a series of educational products. There’s Hopster, on which “your 3-year-old kid can watch a TV show like ‘Peppa Pig’ or ‘Thomas & Friends’ or whatever, but afterwards it will take them to a contextual game to teach them about colors or the alphabet or sharing. You as a parent then get a notification on your dashboard that says, ‘This is what your kid did today. Why not talk to them about sharing or how not to fight with their siblings or whatever it might be.’”

Then there’s Poptropica, which Sandbox bought from Pearson. “Poptropica was already an extremely popular destinations for kids aged 8 to 11, given its strong creative storytelling foundation, which was built by Jeff Kinney [author of Diary of a Wimpy Kid]” says Singh. “Our goal here was to really nurture the success with the Sandbox ethos of Engage, Entertain and Educate and help bring out some of the edutainment aspects without taking away from the kids’ experience. For example there is an island in the game about Greek Mythology where kids get to know about Zeus while enjoying an adventure and learning something about problem-solving along the way.”

Or how about Sandbox’s latest addition, Tinybop, which offers a series of interactive experiences including ‘The Human Body,’ which allows you to dive into the skeletal, muscular, nervous, circulatory, respiratory, and digestive systems. “It is one of the most downloaded apps on the app store for kids globally,” says Singh. “A kid learns a lot through it because they find it funny. They feed the body junk food versus fresh food and see the difference it makes. Suddenly a 6-year-old is learning about healthy eating and biology and how to think things through logically but as far as they are concerned they are just playing a great game.”

Make screen time count

Personalization and learning through digital play are all very well, but what does Singh say to parents who already believe their children spend too much time in front of screens? “I agree with them!” he says with a laugh. “As a parent, I don’t allow my kids to play on a screen for more than half an hour a day. But to me that half an hour needs to be something that is interesting, engaging and is moving the dial for them. And I always tell them that I don’t want them to just play with Sandbox apps. I think playing a little bit of Minecraft is very interesting, it’s very additive, it’s teaching kids lots of things. There’s nothing wrong with it. The problem comes when an iPad or an iPhone is used as a replacement for a nanny or a pacifier.”

Launching learning

Sandbox’s 360-degree approach to learning includes acquiring and operating products which empower parents and teachers. Its parenting advice portal ‘Family Education’ is one of world’s largest resources for day-to-day parenting and its TeacherVision product comprises activities, worksheets and games designed to help educators to energise a classroom. Meanwhile, Sandbox’s newly launched FutureFit framework is designed to enable teachers to combine 21st century skills and social-emotional learning with a traditional academic curriculum.

With a team split between Boston, Massachusetts, USA; New York, New York, USA; London, England, UK; and India, Sandbox is growing rapidly. “We have 10 products,” says Singh. “We reach 20 million kids, parents and teachers on a monthly basis and now it’s about building on this scale. We’re really trying to build a superstore, a sort of Macy’s of learning products and services, if you will. We’ve built the ground floor, and now we have to build the first and second floors. In the coming years you will see more products on reading and comprehension, on coding, on language learning and on spatial skills as well as new products for parents and teachers to aid them in their day-to-day tasks . We hope to reach in excess of 100 million kids a month, I think that’s critical mass for us.”

The focus is on assembling existing digital products, modifying and growing them rather than starting new ones from scratch. “All of us who launched this startup have come from being intrapreneurs in corporate settings,” says Singh, whose résumé includes stints working as CEO of Pearson English and Informal Learning and as Managing Director for emerging markets at media giant Viacom. “I have been fortunate to have had a diverse set of experiences of building on a foundational set of businesses and scaling them up across geographies and product lines into meaningful, cohesive portfolios. So while it’s quite different in the sense that my partners and I are doing this by ourselves, in many ways it’s not so very different! It’s still about bringing together a strong team who believe in the vision and assembling a portfolio of products and services that resonate with their audience.”

Singh believes there’s major opportunity in the digital learning sector. “We operate at the spot where media meets learning and personalized, engaged learning,” he says. “It’s a wide-open space.” His company’s products are already making their way into mainstream education, with apps like Tinybop being used in some schools as a supplemental way to teach kids science. But what is the real endgame for Singh? “I want our products to become more and more relevant and compelling to their key audience demographic,” he says. “If, 10 years from now, the next generation of 3-year-olds is being given Hopster subscriptions by their grandparents as a matter of course, that’s what success looks like for me.”

While they remain skeptical on cryptocurrencies, they still believe their underlying technology — blockchain — has promise. Also known as distributed ledger technology (DLT), they believe this new class of technology will have application across multiple industries and, one day, drive significant economic value.

That said, although they believe DLT is where the “rubber meets the road” for innovative ledger and data sharing technology, they think there could be significant friction that will likely impede widespread adoption for a number of years.

]]>https://www.ypo.org/2018/02/cryptocurrency-tech-faces-bumpy-road-adoption/feed/0This Successful Tennis Pro and Entrepreneur Demonstrates 5 Ways Pressure Is Your Best Friend for Successhttps://www.ypo.org/2018/02/successful-tennis-pro-entrepreneur-demonstrates-5-ways-pressure-best-friend-success/
https://www.ypo.org/2018/02/successful-tennis-pro-entrepreneur-demonstrates-5-ways-pressure-best-friend-success/#respondThu, 15 Feb 2018 02:22:22 +0000https://www.ypo.org/?p=76697Discover more about YPO YPO member Gregg Hill loves pressure. In fact he calls it his “secret weapon” – and he’s experienced plenty of it. At only 9 years old, Hill left his home and family to live full time at Nick Bollettieri’s Tennis Academy....

YPO member Gregg Hill loves pressure. In fact he calls it his “secret weapon” – and he’s experienced plenty of it. At only 9 years old, Hill left his home and family to live full time at Nick Bollettieri’s Tennis Academy. He attended the academy with tennis champions like Andre Agassi, Jim Courier, and Monica Seles, and was doubles partners with Tommy Haas. That’s enough pressure for a lifetime, but Hill wasn’t done. When injuries forced him out of the sport he loved, he was determined not to let that be the end of his successes. Even though he had to restart from nothing, he approached business with the same fervor he had tennis. He became an entrepreneur, developing real estate projects with Hill Gray Seven, founding H&S Capital Group, and becoming involved in Frustum, a generative design software.

In tennis and in business, Hill learned to take pressure and transform it into many opportunities for success. Learn Hill’s tips on making pressure work for you.

]]>https://www.ypo.org/2018/02/successful-tennis-pro-entrepreneur-demonstrates-5-ways-pressure-best-friend-success/feed/0This Innovative CEO Shares the Secret to Getting the Most Out of Your Timehttps://www.ypo.org/2018/02/this-innovative-ceo-shares-the-secret-to-getting-the-most-out-of-your-time/
https://www.ypo.org/2018/02/this-innovative-ceo-shares-the-secret-to-getting-the-most-out-of-your-time/#respondThu, 15 Feb 2018 02:13:14 +0000https://www.ypo.org/?p=76694YPO member Barry Kern is the third generation of the Kern family to run Mardi Gras World, Kern Studios, and River City Venues, a company that has grown to become the world’s leading maker of floats, sculpture, and props. He shares his advice on how to finish the job when time is running tight.

YPO member Michael Golway has dedicated his life and career to preserving time. He recognized early the connection between time and health. Since sickness and disease is the primary stealer of time, Golway believes that striving for anything less than profound and positive contributions to extending human life would be a waste of time. In that spirit, his company, Advanced Solutions Life Sciences, has developed cutting edge 3D printing technology capable of creating human tissue from source cells from the patient. Golway is working to give people the gift of more time.

]]>https://www.ypo.org/2018/02/this-innovative-ceo-shares-the-secret-to-getting-the-most-out-of-your-time/feed/0Behind the Business of Mardi Gras: How to Get a Whole Lot Done in Very Little Timehttps://www.ypo.org/2018/02/behind-business-mardi-gras-get-whole-lot-done-little-time/
https://www.ypo.org/2018/02/behind-business-mardi-gras-get-whole-lot-done-little-time/#respondTue, 13 Feb 2018 23:24:56 +0000https://www.ypo.org/?p=76612YPO member Barry Kern is the third generation of the Kern family to run Mardi Gras World, Kern Studios, and River City Venues, a company that has grown to become the world’s leading maker of floats, sculpture, and props. He shares his advice on how to finish the job when time is running tight.

When you’re coming to the end of a project and the deadline is fast approaching, it can seem like there are a million things to do and only five minutes to do them. Of course, it helps if you plan your time well, but some things are simply out of your hands. Business leaders need to keep themselves and their employees calm and efficient during the storm.

YPO member Barry Kern knows there’s no time for panic when time is of the essence. He is the third generation of the Kern family to run Mardi Gras World, Kern Studios and River City Venues, a company that has grown to become the world’s leading maker of floats, sculpture, and props. So Kern knows well that the Mardi Gras celebration in New Orleans waits for no one.

That’s why for the past year, Kern has been preparing for this year’s Mardi Gras. And the moment this year’s Carnival is over, he and his team will start preparing for next year’s celebration. As the date draws closer every year, time becomes more precious. With floats to finish and logistics to coordinate, Kern had to develop techniques to deal with the pressure.

“As the leader of a company, you’re responsible for everything, but that doesn’t mean you have to do it all,” advises Kern. Leaders need to develop a team they can count on through thick and thin. Kern knows this takes time, explaining, “Many of my employees have worked here for decades, and we’ve built strong relationships.” But it’s played a critical role in his success. He says, “I can focus on my job knowing that they’ve got theirs covered.”Remember that effective use of your team also requires that the leader not be a micro-manager.

2. Maintain the Big Picture

Kern is involved in Mardi Gras parades all over the country, plus other projects around the world that don’t necessarily sync up with Mardi Gras. With all that going on, Kern warns, “It’s important not to get lost in the details. It just eats up valuable time on the back end.” He knows what’s at stake: “Mardi Gras is going to happen whether you’re ready for it or not. So we’ve made it a practice to always be ready.” This high-level organization is critical at any company.

3. Reassess and Question

Kern is not afraid to change processes. He says, “We constantly reassess and question ourselves throughout each project to ensure we’re being efficient while also delivering the best product.” A regular review is an opportunity to optimize. “Be sure that everything you do is moving the ball forward,” Kern advises. You might be surprised by what you find.

4. Know Your Craft and Your Company

“I started out as a child literally sweeping the floors here. I went on to study float making in Europe. I’ve worked just about every job in our company,” Kern says. This experience has served him well. He explains, “This foundational knowledge helps me with planning because I know what goes into all the parts and pieces needed to complete any job.” While not everyone has the advantage of growing up in a family business, this doesn’t mean you can’t learn your business just as intimately.

5. Set Clear Expectations

With the enhanced knowledge you have of your company, you know exactly what you are capable of producing. “Perhaps my most successful marketing tool has been that we always deliver,” Kern asserts. This means laying out clear goals for employees and achievable promises to clients. “My clients know that if we agree on something, it will get done. I’ve never let them down,” Kern says. Strive to be the best, but don’t bite off more than you can chew.

6. Predict Your Needs and Plan for the Unknown

This is another aspect where knowledge of your business is key. “You have to know in advance what resources you will need for each project,” Kern says. “Every year, as we get closer to Mardi Gras, we hire seasonal employees who have worked with us each carnival for years.” But prediction is always an imperfect art. Kern advises, “Thinking ahead means you’ll rarely, if ever, get caught off guard. But always build in cushion to your timeline to be able to address hurdles as they pop up – and they always do.” You will never regret this extra planning.

7. Make It a Science

While our product is art, we are a business,” Kern explains. “We have systems and protocols in place to know what we need to do and when we need to do it in order to meet deadlines.” So Kern sprinkles some business into his art, explaining, “While our art is made by masters at their crafts, there is an assembly line aspect to some of what we do. Our artists can focus on the big show pieces while less experienced employees apply glitter to thousands of individual paper mâché flowers.” This is another important way to question and refine your business practices.

You cannot produce your product if your employees are unprepared. Kern says, “We’ve established processes over decades, and we’re quite good at managing workflow.” This starts from the day an employee arrives: “When new employees join our company, we take a lot of time to train them on how to best do their jobs and to inform them of how they fit into the overall process.” Once they have mastered the job, your employees will be useful resources on how to refine your procedures.

9. Renew, Reuse, Recycle

Kern is always looking for untapped efficiencies. “The theme of each of the dozens of parades we work with changes annually. Over the years we have amassed a large inventory that can be altered to meet our clients’ needs, saving time and money.” This is an advantage for customers, Kern says: “Our clients appreciate that we’re able to extend this value to them.” But it’s also great for your employees, who can spend more time working on more difficult projects, refining their skills, and training.

]]>https://www.ypo.org/2018/02/behind-business-mardi-gras-get-whole-lot-done-little-time/feed/06 Proven Ways to Generate Good Luck Every Dayhttps://www.ypo.org/2018/02/6-proven-ways-generate-good-luck-every-day/
https://www.ypo.org/2018/02/6-proven-ways-generate-good-luck-every-day/#respondFri, 09 Feb 2018 22:38:55 +0000https://www.ypo.org/?p=76552YPO member Stuart Lacey, Founder and CEO of Trunomi, has made respecting luck a regular part of his business activity and shares how to make your own luck daily.

Nearly everyone wants to be luckier. Some people think success is about preparing for luck, while others think success is about what you do with luck when you find it. There may be different perspectives on luck, but everyone agrees you can’t go wrong with more of it, as long as it’s good.

YPO member Stuart Lacey is considered by many to be an extremely lucky guy, personally and professionally. He married the woman of his dreams, lives exactly where and how he wants, and has traveled to over 70 countries. He’s built five successful companies, including Trunomi, a customer consent data rights platform. Bank Innovation even named Lacey as an Innovator to Watch. Lacey has made respecting luck a regular part of his business activity. He even created a mathematical formula to analyze and replicate it.

Lacey likens experience to the process of securing a patent. “Anyone can file for a patent in a matter of hours for a few hundred bucks. But without a deep understanding of the technical, engineering, design, and geo-political aspects, and without appreciating the importance of opportunity cost and due diligence, the chance of receiving that patent is practically zero.” And Lacey understands that outside factors can influence the outcome, explaining, “Of course experience can be borrowed, for example, by using a world-class (and equally expensive!) patent attorney.” But in the long run, no amount of money can make up for a lack of experience.

2. Have Situational Awareness

Lacey asks a frightening question: “When you’re in a movie theater, do you actually know where the exits are?” Lacey asserts, “Having situational awareness can multiply by a thousand your chances of survival.” The same is true in business. In a less frightening scenario, Lacey suggests it’s like skiing: “When you’re at the bottom of the mountain, have the foresight to recognize that the last on the ski tram is the first one on the slope. You can totally change your experience just by thinking ahead.” What you do when you get there is up to you, but you can maximize your potential by understanding what’s going on around you.

3. There’s No Substitute for Heart

A hockey fan, Lacey likes to quote Luc Robitaille, who said, “You can find someone smart, but never underestimate heart.” Lacey says, “Passion and work ethic usually trump everything else, and luck does not favor those who don’t put in the hours.” It helps, of course, when your career is doing something you love. But when you put in the solid work, the rest will follow with more ease.

4. Embrace Failure

Lacey is a firm believer in the adage, “Fail quickly, fail cheaply, and fail often.” Lacey says, “The willingness to accept and learn from one’s mistakes is vital for luck.” Mistakes here can multiply. “You have to invest time with your head down, ready to constantly pivot and adjust. Embracing change and innovation IS to embrace failure.” People are told from childhood that failure is bad, and this is a crutch that any entrepreneur has to overcome.

5. Take Action

“How often do you look at something new and say, ‘I thought of that a while ago!'” Lacey asks. “There are so many stories of inventions that never occurred or were greatly delayed until someone else took the initiative to act.” It’s not always easily done. “It takes courage,” Lacey acknowledges, “and a willingness to fail and bounce back.” But the alternative is always worse. Lacey asserts, “Either you act and luck has a shot, or you don’t act and the chances of your influencing the outcome are nil.” Take the chance on yourself, and don’t be afraid – failure is an opportunity.

6. Attitude Matters

For Lacey, it’s important to remember that people are human. “If your flight is cancelled, it’s not the gate agent’s fault. I have always found that a kind, supportive, appreciative tone, with a strong measure of compassion, works absolute wonders.” No one likes being unappreciated or disrespected. “Focusing on the human element of interactions at all times is a multiplier of your chances for a lucky outcome.” Another important element is to maintain optimism. Lacey explains, “I’m realistic about the work required, but I’m also aware the future is one that we will create and craft. You need to have the ability to accept bumps in the road while keeping your eye on the prize.”Further, a willingness to accept compromise is key. Be humble, and remember to exercise emotional intelligence.

]]>Employee engagement is hitting an all-time low with only 29 percent of millennials reporting that they are engaged at work. Why is this an issue?

Actively disengaged employees cost the U.S. USD483 billion to USD605 billion each year in lost productivity. These low engagement numbers are leading to significantly low retention rates. Only 31 percent of millennials see themselves staying with their current employer beyond five years. About 62 percent of all millennials exit their company within two years of being hired.

The top three workforce management challenges faced by corporate America are retention, engagement and recruitment. These statistics paint a challenging picture for managers, HR departments and CEOs across America. But these statistics don’t have to be your company’s reality. How can you change the numbers in your favor for your organization? You can make an immediate impact to alter these statistics in your company by embracing and supporting what millennials expect to find from their employer.

1. Meaningful work: While money is important to millennials (they do want competitive pay), what is more important is having a meaningful and fulfilling job. Millennials who derive meaning from their work are more than three times as likely to stay with a company. And having a corporate social responsibility program isn’t enough — millennials are looking for companies that weave purpose into the core business model of the company.

2. Career progression: Millennials don’t leave companies —t hey leave their managers. How do you ensure that you don’t allow valuable assets to walk out your door? Begin offering them opportunities to progress in their career within your company. At least 51 percent of millennials are concerned that they don’t have the key skills to succeed, so be sure to back up these opportunities by providing the training necessary for the employee to develop the skills.

3.Professional development: Millennials don’t want to spend their time just earning a paycheck; they want to invest time acquiring the skills and knowledge they need to grow both personally and professionally. This generation views work through an entirely different lens as compared to previous generations. They prioritize personal fulfillment and professional development (found rarely in the workplace anymore and widely varied at companies that do offer such opportunities) over cash bonuses and 401(k) programs (which are commodities that many companies do provide).

4. Flexibility: Among millennials, 7 percent rank flexibility and work location as being in the top three most important factors in an ideal work environment. They want to work in the way that suits them best. Their extensive use of technology means that the line between work and home has become increasingly blurred. Millennials feel constrained by what they see as outdated traditional working practices.

5.Work/Life balance: One of the biggest distinguishing features between millennials and previous generations is that work does not define them. Family, friends and making a difference in their community are much bigger drivers for this generation. Fifty-four percent of millennial employees have passed up, or are willing to give up, an opportunity for a promotion to better manage a work/life balance. Previous generations treated this balance as setting firm boundaries between work and non-work activities. However; this generation takes a very different view, believing that work/life balance is not setting boundaries. Work/life balance isn’t about the hours worked in a given day, but rather the productivity accomplished. Millennials have collectively shifted their focuses; employers must focus on striking a balance, too, if they hope to attract and engage this generation.

6. Innovation: Millennials generally view innovation as the key purpose of business and just as important as profit. This is a real shift in business dynamics. Millennials want to create and they want to be recognized for their ideas. They are actively seeking companies that support their desire to innovate. In fact, 66 percent of millennials say innovation is critical when selecting a potential employer.

7.Collaboration: Millennials are a collaborative generation. This technology-native generation tweets, links, shares and blogs with each other and the world in general with ease. Is it any wonder they expect a work environment that offers access to the best tools for collaboration? Ensure that your company integrates technology to enable employees to collaborate efficiently.

Keep in mind, millennials don’t inherently want to be job-hoppers; however, they will leave if their companies are not giving them compelling reasons to stay. When they believe their needs are not being met and they see what appears to be a better opportunity, they have every incentive to take it. Taking the time to understand the key factors that drive millennial engagement and retention is just the first step — implementing change is the next step.

This article was written by Debbie Woolridge for “Real Leaders.” Wooldridge is the founding president and CEO of DW Training and Development which helps businesses improve their performance through effective training strategies and programs. Her company has also created The Millennial Project, an interactive two-day workshop that provides companies with the tools and strategic road map needed to improve workforce processes and productivity.

California’s Wine Country was in a state of emergency as more than a dozen wildfires burned through large swaths of land in Napa and Sonoma counties. The fires destroyed at least 8,000 homes, caused more than 40 fatalities, and forced residents throughout the area to evacuate.

YPO members Silver Oak Cellars President David Duncan and HALL Wines LLC President Mike Reynolds both remained in Napa Valley while the wildfires burned nearby. The YPO Wine and Hospitality Networks recently sponsored a global conference call with them, giving them the opportunity to share their personal experiences as well as their insights on the impact of the fires on the wineries, tourism, future vintages and more.

“Part of the challenge was trying to help our staff and make sure they were safe and their homes were safe,” says Reynolds. “Simultaneously, we were at the peak of our harvest. We had a lot of grapes to pick, a lot of grapes to process and a lot fermentation to get started. We were in a deficit of information. The internet didn’t work, the power was out in most places, cell phones didn’t work in all places and just the basics that we take for granted were not available to us.”

A thick haze of smoke spread around the region and some of the worst air quality recorded engulfed the Bay Area of Northern California. According to Reynolds, there was less than half a mile visibility, people were wearing masks and it was challenging to work due to the air quality. Another challenge was access. Not only were people kept out of the fire areas but also out of the areas that could potentially burn. As a result, huge portions of the Napa Valley were blocked off. Even though HALL Wines had grapes to pick, their employees weren’t about to get to them right away.

“For a lot of people, coming back to work provided a sense of normalcy in their lives with all this chaos going on,” says Reynolds. “One of the things we did was we gave people jobs when we really didn’t need them because they needed to work, they needed to get a paycheck so they could pay their bills.”

Silver Oak also told its employees take care of what was important first — their families and homes — and paid staff for the week they were unable to work. “Having that experience does change your mindset a bit,” says Duncan. “Every single person that lost their home had the same response: It’s just stuff.”

Reynolds and his wife found out what was important to them when they were forced to pack up everything they could in their cars and evacuate their home in the middle of the night.

“We took photo albums, computers and records of our family,” says Reynolds. “We came very quickly to the reality that if the house burned down it was out of our control. What you’re really worried about is your family, your friends, your dogs, and making sure that everybody is safe. Everything else is not that important.”

Moving forward

The outpouring of support from local residents as well as people from afar has helped the community get back on its feet quickly. Right now the best way to continue to support the area is to buy Napa and Sonoma wines and to come visit the region and vineyards. Hospitality drives the area and there was a substantial decline in tourism in the fall as a result of the fires. This slower season is an ideal time to visit. According to Reynolds, visitors can “get up close and personal with people in the wine country when there’s less competition.”

Napa and Sonoma are very much back in business. And the fires will have very little impact on what a visitor experiences or the wines the vineyards produce.

“We’re not going to put something in the bottle that’s not great. Anything affected by the fire will be quite minimal,” says Duncan. “2017 is shaping up shaping up to be a nice vintage.”

Murray Chabant, Director of Alula Water and YPO member, and Dinao Lerutla, CEO of Alula Water, joined CNBC Africa to discuss the role of the private sector in addressing Cape Town’s water supply crisis. Watch here

]]>https://www.ypo.org/2018/01/cape-towns-water-crisis/feed/0Real-Time Performance Management: From People Management to People Developmenthttps://www.ypo.org/2018/01/real-time-performance-management-people-management-people-development/
https://www.ypo.org/2018/01/real-time-performance-management-people-management-people-development/#respondWed, 31 Jan 2018 00:18:34 +0000https://www.ypo.org/?p=76348Real-time performance management has become a proven performance management system with real business benefits.

]]>During the past five years, real-time performance management has moved from a vague alternative of the traditional end-of-year appraisal system to a growing human resource trend — a proven performance management system with real business benefits. While many companies still are experimenting with the different tools and software available, there is a clear mindset shift in how employee performances should be measured and evaluated, and companies of all sizes and across different industries are starting to take notice.

The performance management revolution

According to Deloitte research, “the performance management revolution is in full flight,” as companies look for alternatives to the traditional end-of-year appraisal designed in the 1970s. Their “2017 Global Human Capital Trends” research shows 82 percent of companies reported that performance evaluations were “not worth the time.”

Instead of holding people accountable for past behaviors, this new alternative approach is based on ongoing dialogue and shared accountability between an employee and his direct manager. Regular informal meetings are set up for managers to provide coaching using frequent input on employee’s contributions throughout the year. The year-end annual review is not replaced but discussions are more meaningful and part of regular and forward-looking conversations about personal development.

Why use real time?

As might be expected, large technology companies have led the way in the transition to real-time performance management, but they also have been joined by firms from various industries, including manufacturing and professional services, as well as smaller firms looking for more flexibility and agility in managing internal performance.

“This is a huge trend,” says CEO of TINYpulse and YPO member David Niu. “Three years ago, it was in vogue to talk about blowing up the annual performance review but there was no substitute. With the rise of a millennial workforce accustomed to getting quick feedback, as well as new technology, there is a clear movement toward continuous evaluation.”

YPO member and President of EmPower HR Scott Carter , whose company services small- and medium-sized businesses with all aspects of HR, from payroll to strategic services, agrees that the trend is accelerating in line with a new way of working. “Frequency is increasing and so I think real time is where it is going, especially with the learning style of the younger demographic,” says Carter. “Everything is real time. Appraisals are going more quarterly and monthly, and for the more cutting-edge companies, in real time.”

Manager as coach and mentor

Niu stresses the importance of coaching in implementing the new performance process. “Right now, there is a lot of experimentation but we recommend standardizing one-on-one weekly basis coaching to employees who already created SMART (specific, measurable, agreed upon, realistic and time-based) accountabilities. If the performance is below or not matched, the direct manager asks how can I help you get back on track?”

He adds that having continuous coaching to monitor and provide quick feedback changes the conversation to a more forward-looking one with input and suggestions coming from other peers in the employee’s network. While most of his clients are large technology companies, he believes ongoing coaching can be applied by any company regardless of industry or size.

Niu’s experience to date also shows little or no resistance to this coaching aspect. “People love real-time assessment. This is part of having engaged employees,” says Niu. “Rarely is there direct report resistance. They want more feedback and face time. Resistance might be from managers but if senior executives have a learning or coaching mentality, this new way of thinking will apply from top to bottom.”

Technology, culture and accountability

As might be expected, technology plays an important role in the process change, allowing managers to centralize and review data using intuitive software or apps.

“Simple and accessible technology is necessary to provide and aggregate real-time feedback. But more important is the cultural shift. Most apps available today have a rating component, and a numeric scale might be distracting if the employee is too focused on the numbers instead of how to improve,” says Carter.

He also believes if a company starts with an employee-customer-shareholder approach, for example, serving your employee and customers first and financial results will follow, then the transition will be easier.

Another factor in ensuring the success of this new, more inclusive performance management process is the role of employees. “If employees want real-time feedback, they must also ask for feedback from peers and take more initiative,” says Carter. “A leader is really an accountability coach or partner but the employees need to take ownership of their development plan and careers. Where I (often) see businesses fall down is when they put a lot of focus on the responsibility of leaders but ignore the importance of employee accountability and ownership.”

]]>https://www.ypo.org/2018/01/real-time-performance-management-people-management-people-development/feed/0From Russia With Trusthttps://www.ypo.org/2018/01/from-russia-with-trust/
https://www.ypo.org/2018/01/from-russia-with-trust/#respondWed, 31 Jan 2018 00:02:45 +0000https://www.ypo.org/?p=76256YPO member Alexey Goryachev shares his thoughts on the state of the market and the opportunities for entrepreneurs in Russia.

]]>Entrepreneur and investment banker Alexey Goryachev has spent more than 25 years spotting and capitalizing on business opportunities from his base in Moscow, Russia. He shares his thoughts on the state of the market and the opportunities for entrepreneurs in his home country.

When YPO member Alexey Goryachev entered the business world as a student in Russia in the early 1990s, it was a challenging environment. “I wanted to set up my own company,” he says, “But how? I had no money, no connections. And just to remind you, we had been living in a socialist country for 70 years. The Soviet Union had only recently collapsed, so there were no angel investors around.” It was a precarious moment: the political situation was unstable, the country’s infrastructure was in dire need of investment and the population had limited resources and no experience of consumer capitalism.

Undaunted, Goryachev gained experience helping to set up the new Moscow stock exchange. He used the insights he gathered to hone the idea of an investment company, which he pitched to anyone who would listen. “Eventually I found my future partners, the owners of one of the first Russian joint ventures with the West,” he says. “I brought my best friend with me and we did a presentation about the new opportunities on the emerging [Russian] financial markets. I asked for 60 percent for us in the new venture on the basis of our expertise of doing business in a totally new sphere. We agreed on 50-50.” Goryachev is a man who likes to make opportunities happen. “I kicked the door open into my career,” he says.

The human factor

Scroll forward 23 years, and Goryachev is Co-Owner and Managing Partner of RB Partners, the leading private investment bank in Russia. He sold his original investment company, RMG Partners, in 2014 but — not being one to rest on his laurels or retire to a private island to gloat in the sunshine — continued to work hard. An average day starts with a 10-kilometer (6.2 mile) run around the Kremlin, followed by up to 12 hours of meetings, pitches and presentations. The dedication pays off: for three years his bank has been ranked No. 1 in “Forbes” Russian investment banks ranking, thanks to the quality of its research.

When it comes to evaluating investment and acquisition opportunities, Goryachev’s got a checklist of things he wants to see. “We need a big opportunity in a fast-growing sector, a clear business model, a proven market, reality-checked financials, a lasting competitive edge and a real problem to solve,” he says. But ultimately, crunching the numbers only gets you so far. “I always start from the people,” says Goryachev. “You might think it’s about money but it’s always about people. It’s people who nail it or screw it. The human factor is the most important: I look for people with inner integrity and stamina.”

For YPO members looking in on Russia from the outside, the biggest barriers to overcome might seem to be the regulatory environment and an economic climate shaped by sanctions imposed by the West. Not so, says Goryachev. “The lack of trust and management skills is more important,” he says. It’s something he’s trying to address through the YPO Moscow Chapter. “We’re trying to spread the YPO safe-haven of trust and building relationships. We try to help people look for win-win results in their business negotiations, to find a solution which works for both sides. I think that businesspeople in Russia don’t always understand how much value trust allows them to create.”

Cultivating the next generation

Goryachev devotes significant amounts of time to mentoring young entrepreneurs, sharing the lessons he learned both through his own experiences at RMG Partners and RB Partners and from his time studying at Harvard Business School in 2016. “You just change the way they perceive the business processes and themselves, and help them to dream big,” he says. “You show them that they can be very successful, not just in Russia but also globally.”

A natural optimist, Goryachev believes that it is the flaws in the Russian business environment that make it exciting. “The best thing is that nothing is perfect here,” he says. “Russia, for now, is a real land of opportunities: whatever you do, you can find something which is imperfect and try to make it more perfect.” His tips for industries to watch in the country? “Artificial intelligence, the blockchain, the “internet of things,” virtual reality. Then space, energy — and even farming, a very conservative industry, but one which is changing very fast with the help of technology.”

If you’re feeling tempted to put a toe in the Russian market, Goryachev has some simple advice for you. “Find a trustworthy partner with a win-win mindset, one who can open doors for you,” he says. “And remember — build trust first, then build the business.”

]]>https://www.ypo.org/2018/01/from-russia-with-trust/feed/0Ignite Power receives USD15bn in funding for solar PV projectshttps://www.ypo.org/2018/01/ignite-power-receives-usd15bn-funding-solar-pv-projects/
https://www.ypo.org/2018/01/ignite-power-receives-usd15bn-funding-solar-pv-projects/#respondTue, 30 Jan 2018 16:07:41 +0000https://www.ypo.org/?p=76791YPO member and Chairman of Ignite Power discusses how his company has been awarded $15 million by the Abu Dhabi Fund for Development to contribute to the installation of 500,000 off-grid solar home systems in Rwanda.Watch here

YPO member and Chairman of Ignite Power discusses how his company has been awarded $15 million by the Abu Dhabi Fund for Development to contribute to the installation of 500,000 off-grid solar home systems in Rwanda.Watch here

]]>https://www.ypo.org/2018/01/ignite-power-receives-usd15bn-funding-solar-pv-projects/feed/0Do You Have an Addictive Personality?https://www.ypo.org/2018/01/do-you-have-an-addictive-personality/
https://www.ypo.org/2018/01/do-you-have-an-addictive-personality/#respondFri, 26 Jan 2018 22:33:47 +0000https://www.ypo.org/?p=76266YPO member Rachel Graham, co-founder and president of Healing Spring Ranch, shares the risk factors that everyone should monitor to make sure behaviors don't become problematic.

]]>YPO member Rachel Graham is the co-founder and president of Healing Spring Ranch, a residential treatment facility for substance use disorders. She shares the risk factors that everyone should monitor to make sure behaviors don’t become problematic. Read more.

]]>https://www.ypo.org/2018/01/do-you-have-an-addictive-personality/feed/0How to Make Work a Place People Want to Gohttps://www.ypo.org/2018/01/make-work-place-people-want-go/
https://www.ypo.org/2018/01/make-work-place-people-want-go/#respondFri, 26 Jan 2018 20:01:42 +0000https://www.ypo.org/?p=76262YPO member Mike Novakoski, CEO of Elzinga & Volkers, shares how he has created an employee-centric culture that's made work more compelling for employees at every level

Not every job is a great pleasure. Some workplaces do offer deeper engagement, better communication standards, or more positive cultures. Other workplaces are just somewhere to get through the daily grind. But it doesn’t have to be this way. Work could actually be…fun. Some employers find that creating a joyful, fun workplace is essential to success. These employers say their employees produce better work, get it done faster, and want to stay at the company their whole careers.

YPO member Mike Novakoski and his employees look forward to work every Monday. Novakoski is the CEO of Elzinga & Volkers, a construction company in Holland, Michigan, USA. While they’re a regional player in an industry many associate with lots of hard work and little recognition, they’re winning national awards for the quality of their workplace environment. 101 Best and Brightest Companies to Work For has repeatedly named E&V both tops in the region and a National Elite Award winner. The company’s culture isn’t just based on having a foosball table in the break room and beers on a Friday afternoon. Instead, Novakoski has created an employee-centric culture. It’s made the work more compelling for employees at every level, and nurtured an environment where employees feel motivated and rewarded.

Here is Novakoski’s advice on creating a company where your kids and even your neighbors actually want to work:

1. In a World of Kansas, Be Munchkinland

Novakoski loves “The Wizard of Oz.” He compares the working world to the lonely, black-and-white dustbowl from the beginning of the movie, saying, “Dorothy is singing ‘Over the Rainbow’ and longing for a different, more exciting life.” Novakoski wanted a way for his company to be different. “What if,” he asks, “when an employee opens the front door at E&V, it opens to the wonderful Technicolor world of Oz?” Novakoski wants his employees to have an adventure, explaining, “She doesn’t know it yet, but Dorothy’s in for a fantastic journey meeting an array of characters, solving challenges, and building relationships.” For Novakoski, businesses can provide that experience for employees if leaders take the time to develop the environment. But it’s not just the employees that benefit: great employees are attracted to, and more likely to remain at, companies where leaders have this mindset.

2. Make Your Culture Employee-Centric

“For years, companies have focused on having a client-centered culture,” Novakoski explains. E&V was no different, believing that putting the client first was the way to success. But 10 years ago, E&V surveyed its employees, with surprising results. Novakoski says, “It offered us an opportunity to learn exactly how our people felt about the company. We were able to use this collection of data and comments to create committees that would tackle, head-on, the challenges of becoming a great company in the minds of all our employees.” But Novakoski wasn’t finished. “When we changed from a client-centric to an employee-centric company, we created a much more positive dynamic that has led to outstanding performance for our clients and greater business success.” Employees are more positive and productive when they have a clear understanding of the company’s mission and their role in achieving it. There is gratification in being a respected member of a high-achieving team.

3. It’s Not All About Your Left Brain

Many businesspeople are skilled in quantitative fields that require logic and accuracy. These skills, traditionally associated with the left side of the brain, are critical to running a successful company. But they’re not the only skills leaders need, asserts Novakoski. “‘Right-brained’ leadership is essential. In my experience, people respond much more positively to the intuitive, right-brained leader. These people bring compassion, creativity, emotion, vulnerability, and selflessness into the work day.” This is a gift, Novakoski believes, that “creates opportunity for meaningful relationships built on trust. Enthusiasm and personal and professional rewards will follow.” After all, even the most hardened quant needs a personal touch.

4. Don’t Manage Your People – Lead Them

Nobody likes to be managed. It can be annoying, insulting, or worse. Employees respond better to a real leader, one who uses a combination of right- and left-brain competencies. Novakoski explains, “People need to understand, in simple terms, what the mission of the company is. But they also need to understand how they are a crucial part in that mission.”For E&V, this means having a clear business-wide goal and individual responsibilities that reflect it. “At our company, our tag line is, ‘Unmistakably EV.’ Employees know that our goal is to be unmistakably different from everybody else. And they are asked to look at every single task they do, and do it in a way that’s unlike how anyone in a similar position at another company would do it.” This empowerment has produced great results, Novakoski claims, adding, “It’s a boatload of fun when one of our 200 employees comes up with a really cool idea and sees how our clients, partners, and community react to it!” E&V then further boosts morale by making sure the whole company hears about their colleagues’ contributions. Take pride in your employees’ creativity, and use it to inspire.

5. Develop Employee Maps

E&V has developed two maps for employees. First is a talent mapping program, which Novakoski says “very specifically describes what it takes to join the company, and then how an employee flows from being a technician to a team leader to a corporate leader.” This system eliminates ambiguity from the promotion process. He says, “There is little question in people’s minds as to why they do or do not get promoted. The program offers a great opportunity to have a conversation about how an employee is developing within the company.”

Second is a unique “uMap” for every E&V employee. This map reflects the person’s top five responsibilities for the year, as negotiated with colleagues above and below them, and their business aspirations for the future. But it’s a personal tool, too, that considers personal brand, things the person cares about, and personal and family aspirations. Novakoski describes this as “an incredibly powerful tool that aligns the needs and interests of the company and the employee.” The business and the employee hold each other accountable for achieving their goals.

6. Design an Onboarding Program

Novakoski and his team are busy people, especially as word about their culture has candidates and customers coming out of the woodwork. To get new hires up to speed right away, E&V developed “a unique onboarding program that engages new employees and has them interacting with nearly all of their coworkers within the first three weeks,” Novakoski explains. Existing employees play a role, too, he says, as each is “assigned to be a subject matter expert and individually trains the new hire.” This system encourages immediate, quality bonding and teambuilding.

7. Build a Waiting Room

For Novakoski, one of the most satisfying results of E&V’s culture is the number and quality of employment applications received. He explains, “In Western Michigan, the unemployment rate is around 2%. Finding skilled tradespeople is particularly difficult, and our competitors complain about their inability to find talent.” Amazingly, E&V has the opposite problem, and has created “waiting room” of employees ready to join. Novakoski proudly shares, “We consistently have people from our competition applying for jobs in our company, because they hear what a great place it is to work. We will interview these people, come to an agreement on terms for employment, and then send them back to their current employer, asking them to wait patiently for us to bring them on board when business calls for it.” This impressive reputation among clients and employees took E&V time, planning, and effort to create, but it has helped set up their business for a long and healthy future.

]]>https://www.ypo.org/2018/01/make-work-place-people-want-go/feed/0People Really Aren’t Listening to You and Here’s Whyhttps://www.ypo.org/2018/01/people-really-arent-listening-heres/
https://www.ypo.org/2018/01/people-really-arent-listening-heres/#respondFri, 26 Jan 2018 19:50:40 +0000https://www.ypo.org/?p=76260YPO member Bobby Jorgensen, President of Kistler Ford Sales, shares his philosophy on exactly why listening makes for good business and society.

]]>https://www.ypo.org/2018/01/people-really-arent-listening-heres/feed/0Partnership for the Goals: Achieving the UN Sustainable Development Goalshttps://www.ypo.org/2018/01/partnership-goals-achieving-un-sustainable-development-goals/
https://www.ypo.org/2018/01/partnership-goals-achieving-un-sustainable-development-goals/#respondThu, 25 Jan 2018 22:36:24 +0000https://www.ypo.org/?p=76232Partnership for the Goals: Achieving the UN Sustainable Development Goals explores UBS’s progress in meeting its commitments to the UN Sustainable Development Goals, in particular UBS’s pledge to raise USD5 billion of client money within five years to fund the SDGs.

This new UBS white paper for the 2018 World Economic Forum Annual Meeting explores UBS’s progress in meeting its commitments to the UN Sustainable Development Goals at last year’s WEF, in particular UBS’s pledge to raise USD5 billion of client money within five years to fund the SDGs. UBS, YPO’s Global Strategic Partner — Wealth Management, unveiled more than 30 partnerships which UBS has forged with public and private organizations to support positive social and environmental change.

]]>https://www.ypo.org/2018/01/unlocking-africas-tech-potential/feed/0Stimulating growth in Africa’s Great Lakes Regionhttps://www.ypo.org/2018/01/stimulating-growth-africas-great-lakes-region/
https://www.ypo.org/2018/01/stimulating-growth-africas-great-lakes-region/#respondThu, 25 Jan 2018 07:59:40 +0000https://www.ypo.org/?p=76813Emery Rubagenga, Chapter Chair of YPO Africa Great Lakes, shared his story of his YPO journey and how good leadership is essential to economic growth with The New Times. Read more here

The power of investing can fortify almost everything we value. Putting our money to work by investing it effectively gives us the power to plan our future. It enables our ability to support our families the way we want to, to change careers to pursue a dream, to retire with the life we want, to pursue charitable goals and to leave a legacy. If we don’t put our money to work, we will suffer from opportunity costs that will lead to opportunities lost.

Despite the awesome benefits of investing, women (including those with MBAs from top schools) appear to have a blind spot when it comes to investing their money.

As a 20-year financial advisor and investment manager, I find this oversight doubly concerning for two reasons:

As many as nine out of 10 women will have to manage their finances and those of their family at some point in their lives, and the time to learn is not when there is a crisis.

Since women on average live longer than men, they need their assets working for them as effectively as possible.

Women who lag in their investment literacy have tended to do so for pragmatic or psychological reasons. Pragmatically, women think they are too busy to focus on investing in addition to all else they are doing, or that investing is too complicated. Psychologically, many women feel investing is boring, lack confidence in their financial abilities, or think that caring about investing will make them seem unfeminine since it’s traditionally been the man’s job. In fact, studies show women picture an investor as a man with white hair, rather than realizing that they must be investors to live the life they want in the future.

With these reasons put together, too many women don’t think of themselves as investors, even though anyone with a 401(k) or IRA account is an investor. So, women don’t invest enough, or they delegate investing to the men in their lives without really understanding how their money is being managed.

Simplifying the investment mystique

We need to change this, and we can. The good news is that investing done right should not be that time-consuming or complicated. In fact, if it is, you are likely doing it wrong. Women (and men too!) can own the power of investing with my “five simple rules.” These rules are not rocket science (I know because my first job was working for NASA), and many people already follow them, but not enough:

Invest in stocks for the long run: Stocks do much better than bonds in the long run. If you invested USD10,000 in stocks in 1973, in 2013 its value would have grown to more than USD2 million (vs. bonds that would have only grown to less than USD13,000). That’s the magic of compounding, when you get the power of investing working for you, and it’s the perspective to keep in mind to motivate you to invest. Moreover, since this assumes you leave your money invested through the volatile times, there is no need to waste your precious time and energy trying to jump in and out of the market at the “right” times. In fact, trying to do “market timing” like that is usually counterproductive.

Allocate your assets: How you divide your money among different types of investments is the most important investment decision you will make: Asset allocation means deciding how much in stocks vs. bonds, and within stocks, how much in your home country vs. internationally, how much in large company vs. small company stocks, and how much in “value” stocks (those that seem like they are “on sale”) vs. “growth” stocks (that are priced higher because they are projected to grow more rapidly). Focus on these important decisions to choose your “target asset allocation.”

Implement with index funds: To invest according to your target asset allocation, rather than trying to pick individual stocks, take advantage of “passive” investing with simple, low-cost, and diverse index funds. Index funds buy the whole basket of stocks in each category (or “asset class”) you want to invest in. Trying to “beat the market” by picking individual stocks is a loser’s game. Each year, about 65 percent of active managers (who are paid to try to beat a benchmark) fail to beat their benchmark. And there is no correlation between the managers that beat their benchmark one year and those that do it the next year. So rather than wasting your precious time trying to pick individual stocks, or wasting your money on active managers, use low cost index funds. There are index funds for basically every asset class you want to invest in.

Rebalance regularly: To keep you on track with your goals, sell high and buy low without much effort by rebalancing your portfolio. Sell some of the asset classes that have done the best and use the proceeds to buy more of what has not done as well recently. Rebalance in a disciplined way, back to your target asset allocation, at least once a year, or when your asset allocation gets too far out of kilter compared to your target.

Keep your fees low: Don’t lose as much as half of your wealth to Wall Street with unnecessarily high fees — many people do this and don’t even know it’s happening. Uncover hidden fees by asking anyone who is managing your money what are all the fees you are or will be paying to them or anyone else to have your money managed. If you don’t get a clear answer, or if the fees all together will be more than 1.5 percent of your investments, you probably should avoid that approach.

These five rules can be your investment foundation and touchstone. If an investment proposal or idea does not fit within these five rules, it’s not for you. For example, if you are presented with complicated investment products or products that seem like black boxes for which you don’t know what’s inside (à la Bernie Madoff) — avoid them. Hedge funds don’t fit because they employ active management and have exorbitant fees, so don’t bother with them. Stock picking may be fun for some, but unless you are doing it for entertainment there is no need to spend your limited time analyzing individual stocks — buy index funds instead.

It’s time women make investing a priority in their lives — not at the expense of everything they hold dear, but in support of it. The sooner you start, the longer you will have to benefit exponentially from the power of investing. So, start now!

Alice Finn is is a wealth management expert. Featured as “The Giant” by “Barron’s” in its inaugural list of the Top 100 Independent Financial Advisers, she has appeared as a top financial adviser on CNBC and been named repeatedly by “Worth” magazine as one of the Top 100 Wealth Advisers in the United States. She is the CEO of PowerHouse Assets LLC, a firm she founded to help women become more engaged in their important financial futures. Among other outreach activities, the firm hosts “PowerHouses,” woman-to-woman educational discussions about investing to plan for their financial future. Finn is a Certified Financial Planner (CFP®) professional, received her AB from Harvard University, has a MALD from The Fletcher School at Tufts University and a JD from Harvard Law School.

]]>https://www.ypo.org/2018/01/5-simple-life-changing-rules-investing-women-2/feed/06 Business Leaders Share Insights From CES 2018https://www.ypo.org/2018/01/6-business-leaders-share-insights-from-ces-2018/
https://www.ypo.org/2018/01/6-business-leaders-share-insights-from-ces-2018/#respondFri, 19 Jan 2018 21:07:52 +0000http://www.ypo.org/?p=76077Six YPO members and business leaders share their insights gained from the 2018 CES. What's on tap for the not-too-distant future?

From 9-12 January 2018, more than 180,000 entrepreneurs, manufacturers, retailers and techies gathered at CES® in Las Vegas, Nevada, USA, to discover the latest gadgets, technological advances and next-generation innovations from major manufacturers and startups. The usual products — phones, self-driving cars, PCs, TVs and robots — were on display as well as those that offer a glimpse of a not-too-distant future.

The CES conference program highlighted key trends, emerging innovation and breakthrough ideas from more than 800 top influencers. This year, YPO launched its third annual YPO Innovation Week, which focuses on emerging technologies and new breakthroughs transforming a wide range of industries today, with its own cutting-edge content on multiple industry verticals at CES.

Six YPO members who attended CES share their top insights from the 2018 program:

The age of robotics and AI is no longer science fiction

“AI is now being used to better our lives,” says 1105 Media CEO Rajeev Kapur. “Take the PianoGo app on display. It uses AI to teach you to play the piano better. There were robots that folded your laundry from FoldiMate, suitcases that follow you like a puppy (like one from 90Fun, a Chinese company), and home assistants from Alexa to LG’s CLOi show that in the coming year the home will be easy to connect. Virtual reality (VR) and augmented reality (AR) are being combined with everyday life to create a new category called MR (mixed reality). Microsoft and Oculus are leading the race here. AI, MR and robotics are in the early stages; these technologies will transform the way we communicate and educate the world. If we as YPOers and leaders do not embrace this tech, we will be left behind. No industry is immune to its benefits and/or competitive advantages.”

The future looks smarter

“Picture an on-demand autonomous electric vehicle allowing you to be more productive while transporting you to your destination,” says Kerr Group CEO Rod Kerr. “Interact with your augmented reality headset connected over a high speed 5G wireless network, travel through a smart city accessing data provided by connected internet of technology sensors. Your ride is paid for via facial recognition attached to your financial account using cryptocurrency. At home, your home automation system puts on your favorite song, turns on the lights. Your fridge lets you know you are out of milk and you ask Amazon Alexa or Google Assistant to order more to be delivered via a drone. Your wearables stream your vitals and health data to your physician who recommends hyper-personalized medicine with the assistance of gene sequencing in your medical file. Your AI robot with emotional intelligence asks you how you are feeling in a human-like manner. The tech in your bed allows you to adjust the heat to stay consistent through the night while your sleep headband measures your brain waves and plays noise patterns to help you stay asleep.”

Connected devices connecting everything

“CES is no longer just consumer electronics,” says Nitrous Effect CEO and Chair of YPO Innovation WeekKeith Alper. “It’s everything tech: hardware, software, devices, automotive, health care and more. The story this year is artificial intelligence, virtual reality, augmented reality and connected devices. Companies are racing to include AI, VR and AR. Amazon’s Alexa is starting to be embedded in everything from cars to ovens. The speed of innovation, change and products continue at a fast pace and will leave non-adopters left in the dust.”

Health care taps into the emotional side of technology

“So much of what we typically hear and read about is the colder side of technology – how things work, how technology can do something for us in our lives,” says Stephanie Marchesi, WE Communications President of the Health Sector and Eastern Region. “We heard much more about how technology can make us feel emotionally. One development from TouchPoint is the potential for wearables to deliver bi-lateral alternating stimulation that changes the path of brainwaves, reducing anxiety and stress. While it is exciting that so many devices are being developed, if they are not standardized or integrated with one another, adoption, reimbursement, insights from the aggregated data, and meaningful patient outcomes will not be realized.”

Working together to create a more seamless experience

“Technology is the driver in business across every industry,” says Avangard Innovative CEO Rick Perez. “Fundamentally, a lot of companies create great widgets and great stand-alone technology. Most companies understand they are part of this puzzle, part of the supply chain, but have they figured out how to work together to create a better solution? That is the key: Having great technology with a great network, speed and the right configuration in its industry to drive value. Whoever can get this formula will win the race.”

A customer experience fueled by technology and data

“This year almost every company I came across touted themselves as a ‘technology company,’” says Faire, LLC President & Founder Kate Watts. “These successful bike makers, household appliance innovators and locally-sourced coffee growers are confusing a smart, well-architected user ecosystem that relies on scalable technology with an emphasis on data science and streamlined design with being a ‘technology company.’ This is, instead, a well-articulated customer experience that is powered by technology. To compete in 2018 and beyond, every company should be touting themselves as a ‘customer experience company’ above all else. The best brand customer experiences are those that collect the right data on a scalable tech platform and apply data science to all analytics efforts. As we rapidly approach a world run by automation and machine learning, those who have neglected to implement a sound data strategy will be left behind.”

]]>https://www.ypo.org/2018/01/6-business-leaders-share-insights-from-ces-2018/feed/0Loving What You Dohttps://www.ypo.org/2018/01/loving-what-you-do/
https://www.ypo.org/2018/01/loving-what-you-do/#respondTue, 16 Jan 2018 20:28:13 +0000http://www.ypo.org/?p=76014Seth Streeter discusses how leaders can find meaning and happiness in their demanding career, and learn some lessons from the new generations in the workplace.

As a top chief executive, you answer countless questions with poise and mastery, but can you answer the most important question of all: Do you love what you do?

Have you become so caught up in your dutiful responsibilities, packed daily calendar and travel schedule that you forgot to check in and ask yourself, “Am I still having fun?”

The reality is that not all of you still love what you are doing. But you hesitate to make a change. You may find yourself saying:

But … I’ve worked so hard to get here I can’t back out now.

But … I have so many people who depend on me I can’t let them down.

But … if I can hang in there for just five more years, I’ll have enough money to support my family and our needs.

But … what the heck else would I do?

Why is this? And how can you move bravely toward what you love?

I interviewed Jody Miller, CEO of C2C Executive Search & Strategic Management, a bestselling author and keynote speaker, on how leaders can find meaning and happiness in their demanding careers, and even learning some approaches from the new generations in the workplace.

Redefining work and happiness: Generational perspectives

Seth Streeter: Jody, why do so many company leaders not love what they do?

Jody Miller: I spend every day interviewing and helping chief executives, graduates from Ivy League colleges and large universities and many who haven’t even gone to college, to understand why they are not happy with their work. This phenomenon cuts across all industries and educational backgrounds.

Based on more than 30 years in corporate America — including the last 13 as a career-life coach and strategic consultant to job seekers and companies — I have discovered some reasons why successful executives feel unhappy and need to go through a career shift, regardless of the level of wealth or success they have achieved.

Also, I’ve come to realize that different generations filling today’s workforce have completely different approaches to work. This can teach us a lot about how to find meaning and happiness in our own work.

Millennials have surpassed baby boomers as America’s largest living generation, and they have eclipsed Generation X as the largest group in the workforce. Baby boomers, those born between 1946 and 1964, have created some of the most profitable companies in the world. Microsoft, Apple and AOL, to name a few. They have obtained status, wealth and power, and all the stuff that comes with it. But along the way many began asking themselves questions like, “Is this all there is?” or “What is my purpose in life?”

Feeling stuck? Don’t wait to find your joy

Streeter: What happens when someone feels stuck but can’t seem to make the shift due to all they have taken on?

Miller: Unfortunately, many leaders in this position decide to put off play until retirement.

Streeter: That doesn’t sound so bad.

Miller: Maybe. Maybe not. If we wait to be free from the shackles of work that we no longer love (or maybe never did in the first place), there are consequences:

We have to face the fact that, when we retire, we may not be in the same physical or mental shape we are now.

The cost of health care keeps skyrocketing, and the chances of developing debilitating conditions increases with age.

If you are staying in your present position even if it is not making happy, it gets to the point where you must ask yourself, is joy worth waiting for?

Streeter: If chief executives are unhappy with their current work because they have let everything in their life come second, what should they do?

Miller: They should make a shift. And many do. Among baby boomers who chose to start a business of their own, Gallup has found their motivation breaks down this way:

32 percent to be independent

27 percent to pursue a passion

24 percent to increase income

10 percent because they have an idea for a product or service that meets an unfulfilled need

Those top two reasons tell me most boomers want to play again, before retirement. Without even realizing it, they are taking lessons from the largest cohort of today’s workforce — millennials.

Work as play: What we can learn from millennials

Streeter: What is your perspective on millennials and what can we learn from them?

Miller: This starts with understanding the differences in how these generations were raised. As I mentioned, baby boomers (and Gen Xers close to the tail end of the baby boomer scale: 45-50) had a lot of freedom as kids. They figured out what they loved because they had lots of free time to just be. They dreamed and invented and created amazing companies, but some, when it came time to focus only on responsibility, became dissatisfied and needed to make a shift.

Millennials have taken an entirely different path. Their childhood was scheduled — a lot. Structured play dates. Structured activities.

Technology is also a huge factor. With the explosion of the internet, information became available at the click of a mouse. We found out what diseases our kids might have, we learned about criminals in our towns and we became scared. We locked our doors and drove our kids everywhere, eliminating the opportunity for free play and creative discovery.

Streeter: What about school?

Miller: For baby boomers, school was there, but — after school — play was the focus. Homework was minimal. But for millennials, B’s were not good enough anymore. Everything we read said that getting into college was next to impossible, so our kids had to be exceptional at something. Lacrosse, tennis, violin, chess, school. Practice, practice, practice. All supervised.

Streeter: What happened?

Miller: They rebelled. Just like every generation does based on their time. They decided that they wanted to play too, and they were going to finally live the life they wanted. As soon as they got old enough to go into the workforce, they started calling their own shots. They sought meaning in their work from the start. And if that meant that they hopped jobs to get it, they didn’t care.

Miller: Precisely. Remember, this is the largest workforce yet, and we need to learn from them.

Building bridges through mentoring

Streeter: We’ve talked about what older generations can learn from millennials. Can millennials learn from baby boomers and Gen Xers?

Miller: Sure, particularly if there is a structure in place to pass that learning along. One thing I tell companies when I consult with them about creating happy cultures is to have the older generation mentor someone from the younger generation. You don’t have to create a playground for the millennials to work at, but you can learn from their passion for meaning and purpose and happiness in their work.

They aren’t going to wait until retirement to enjoy their life. They want work to be like play. I doubt we’ll see a lot of shifting going on with them, unless it’s to create the next set of great companies, like the baby boomers did.

I want to emphasize there is great value in connecting these generations. They can learn from one another and, I believe, collaborate in new ways that we can’t even imagine yet.

Streeter: Getting back to those chief executives who no longer love what they do. What’s your parting message for them?

Miller: Embrace change. Don’t be afraid to make a shift. Your contributions are valuable, regardless of when you were born. Try to connect with members of another generation, especially if you have stereotypes attached to them, and be open to learn. You just may find collaboration, meaning, purpose and happiness in your work along the way.

YPO member Seth Streeter is CEO and Founder of Mission Wealth, a leading U.S. wealth management company. Streeter was recognized by “Real Leaders” magazine in 2015 as one of the Top 100 visionary leaders who strive to create a better world. Watch Streeter’s 2016 TEDx talk The Untethered Life: Wealth Redefined.

]]>https://www.ypo.org/2018/01/loving-what-you-do/feed/0The Strength of YPO’s Networks — Deal Talk in Dubaihttps://www.ypo.org/2018/01/strength-ypos-networks-deal-talk-dubai/
https://www.ypo.org/2018/01/strength-ypos-networks-deal-talk-dubai/#respondTue, 16 Jan 2018 06:40:02 +0000http://www.ypo.org/?p=76007Deal Talks are run under the auspices of the YPO Deal Network and are one of the most powerful and effective offerings in the YPO suite of events, convening members from diverse chapters to discuss and problem solve. These small, intimate events are expertly moderated...

Deal Talks are run under the auspices of the YPO Deal Network and are one of the most powerful and effective offerings in the YPO suite of events, convening members from diverse chapters to discuss and problem solve. These small, intimate events are expertly moderated and offer full confidentiality. Attendees are also afforded the opportunity to connect and do business with their peers. Subhi Khudairi, President of the Khudairi Group, has been a YPO member for two years and recently hosted a Deal Talk in Dubai, United Arab Emirates. Khudairi discusses the benefits of networks in YPO and Deal Talks in particular with YPO.org.

How has your YPO membership benefited you personally and in business?

I have been able to obtain a great deal of perspective from not only the learning and networking opportunities within my YPO chapter, but forum in particular. My business has benefited from the advice and mentorship I have gained from my forum group.

On a personal level, being part of YPO and forum has helped to calm my nerves in that I know that my pain points, pressures and challenges are not uncommon to even the most successful individuals. This has given me greater confidence to move ahead in both family and business arenas, despite the challenges that I would have been fearful of without the perspective gained through my YPO experience. YPO and forum provide access to learning, networking and amazing events that enrich my life on an ongoing basis.

Are the networks a valuable aspect of YPO and to which networks do you belong?

Certainly! Networks are a very valuable aspect of YPO. I’m a member seven networks, namely the Automotive, Deal, Entrepreneurship and Innovation, Family Business, Golf, Hospitality, and Water Sports networks.

Each network provides me value in a different manner. Additionally, it’s a matter of one’s circumstances that defines which networks are more useful or relevant than others. My case is no different, some networks are more useful/relevant for me than others, but all of them remain a source of learning, networking and the opportunity to attend events that are suitable for my profile.

For example, the Family Business Network has many posts by fellow members who ask many questions regarding family governance, private boards and other related matters. As a partner in a family business, these posts are extremely useful for me as they help me to understand the pain points of fellow family businesses throughout the world.

What prompted you to host a Deal Talk meeting?

I am grateful for those member volunteers who serve YPO chapters, events and networks, and I therefore was happy to give back by hosting Deal Talks, and other chapter and regional events where I can.

As to why Deal Talk in particular, I initially attended a Deal Talk Series in Dubai in 2016 while the YPO EDGE was taking place in Dubai. It was well attended and well moderated. I enjoyed meeting members from other chapters and found it fascinating to hear about the various business opportunities out there. Since that time, I have attended two additional Deal Talks in Dubai, and the latter one, I was able to host and co-moderate. Again, the opportunity to meet fellow members from other chapters and learn about their stories in a forum-rules setting is very powerful and inspiring.

Additionally, I am looking for a potential investor in one of my businesses so I have a credible “need” that I was able to share with the attendees at Deal Talk. Since then, I have been able to obtain some great leads thanks to the ongoing contributions of the attendees.

Was it a success and why?

In my opinion, it was successful and offered solid diversity with 16 members from across the MENA Region as well as members from Africa, Asia, the U.S. and Europe attending. It was held at a luxurious and inspiring venue (thanks to fellow YPO member Rami Malhas, who hosted us at Volante, an exclusive residential tower). The event was well moderated by Deal Network Chair Chris Rose, and ended in good time, allowing attendees to further meet and greet over a beautifully set lunch in the pool deck area of the building.

Each member, whether they obtained a resolution to their needs or not, was at a minimum able to spend a few hours getting to know very interesting fellow YPOers from around the world in a forum-style setting. This is something that can be difficult to do if you don’t attend events that open the networking doors beyond your local chapter.

]]>When YPO member Sue Chen went scuba diving for the first time 13 years ago, her life took a very unexpected turn

“I got called to save sharks. I don’t know why. I don’t know why it was sharks in particular, but it was the strongest calling I’ve ever had,” says YPO member, CEO of Nova and Co-founder of Operation Blue Pride Sue Chen.

Talking to Chen is like having a conversation with someone you have known a long time; even if you’ve only just met. Her passion for whatever topic she’s discussing is so all-encompassing it is difficult to imagine she has energy left over for anything else, which is just what led to the creation of Operation Blue Pride.

“I brought some of my shark conservationist divers to a YPO family event on Catalina Island as resources about five years ago,” explains Chen. “When I told them what YPO was all about and how I qualified, they looked at me, shocked and said, ‘You own a business?’ They couldn’t believe I cared about something other than sharks.”

“Nobody I ever met that uses an ugly gray walker with tennis balls likes it,” Chen explains in likely the same way she explains her ‘other life’ to her conservationist friends. “When someone has a beautiful walker, it makes them feel better and it makes the people around them more comfortable. When you see a woman going around with a red walker with a leopard seat cover you’re going to think ‘she’s hot!’ And why wouldn’t she be anymore? Your walker should be an expression of yourself; fear drives so much discrimination and insecurity.”

Over the course of that weekend on Catalina Island, Chen, her shark friends and her fellow YPO members started considering ways to merge her passions — sharks, mobility equipment and the group of people who most inspire her: wounded veterans.

“We imagined the same kind of person willing to sacrifice their life for other people’s freedom would be willing to fight for sharks,” explains Chen whose dad had a history of working with veterans at the VA hospital which itself, was a large part of the mission behind Nova — to make better products for veterans. “A few months later, we had three wounded veterans who were on their way to the Bahamas for our first shark expedition.”

Today, Operation Blue Pride has certified more than 150 veterans, helping heal their wounds by providing the kind of camaraderie, protocols and buddy system that allows them to re-engage at a similar level of teamwork in which they were trained.

Not your typical advocacy group

While we are all familiar with calls to action from myriad animal advocacy groups, chances are, sharks don’t spring to mind like, for instance, the snow-cuddly faces of baby seals, or even the lumbering beauty of giant, brown bears. Yet as it turns out, sharks are perhaps the most important species on our planet and the most dangerous in terms of their decimation.

“That’s a big statement, right?” asks Chen and then continues. “We are an ocean planet and if our oceans aren’t healthy, our planet isn’t healthy. Plain and simple. Sharks were put here to keep our oceans healthy; to keep the ecosystem in balance. They basically eat dead, diseased, dying animals; now imagine if there was no way to clear these out and our oceans became totally contaminated …”

And then there’s the reason they’re being slaughtered.

“In the last 20 years, approximately 90 percent of the population of many shark species have been wiped out because of a bowl of soup,” says Chen. “Isn’t that the dumbest thing you’ve ever heard?”

Shark fin soup, which is thought to have been created by an emperor in the Sung Dynasty (A.D. 968) who wanted to show off his wealth to his banquet guests, quickly became a practice at social occasions symbolizing a host’s status.

“Not only are they hunted for soup, but the way they’re hunted is unlike the harvesting of any other animal,” explains Chen. “Hundreds of fishing lines are thrown out, raking in the sharks, which are then relieved of their fins and thrown back into the water to die.”

Chen’s education and advocacy work with Chinese groups regarding this environmentally destructive devastation, resulted in the largest grass roots environmental victory in the history of California.

“We cut off the most commonly used trade route to get shark fins to Asia,” says Chen. “Consumption is now down 70 percent in China and carriers like UPS have decided to no longer ship shark fins. It made a big difference and is a reminder that we have to fight for our biggest business partner: our planet.”

Beautiful chaos

After Chen’s first dive 10 years ago, sharks started coming into her dreams until she could no longer ignore it meant something.

“I never believed people when said they had a calling,” admits Chen. “I always assumed it was based on some rational experience they had in their past they didn’t remember, but now I believe there is a higher force out there, spiritually, that pulls you in directions you can never quite expect.”

The surprise results of Chen’s first dive experience are akin to the surprise benefits of her YPO membership – while Chen joined the organization to become part of a business network, it has since become an integral part of her personal passions.

“When you bring YPO members together, magical stuff happens,” says Chen. “Our oceans need a lot of YPO help and ramping up the Water Sports Network is going to create more ocean love, YPO-style.”

In the end, Chen’s belief in ‘happy chaos’ allows her to stay open to whatever comes her way.

“The word chaos in Chinese is defined as ‘where brilliant dreams are born,’” says Chen. “No one ever knows what’s going to happen; you wake up every day and brace yourself for what’s to come. I try to achieve happiness in life, to welcome the chaos and live in a state of brilliant disruption.”

]]>Innovation Week kick-off at CES focuses on how to convert transformative and innovative ideas into actionable plans

DALLAS, 9 January 2018 – YPO, the premier chief executive leadership organization in the world, will be kicking off the third-annual Innovation Week at the Consumer Electronics Show (CES) in Las Vegas, Nevada, the proving ground for innovators and breakthrough technologies for 50 years. YPO’s launch of Innovation Week will focus on emerging technologies and innovative new breakthroughs transforming a wide range of industries today.

At the CES kick-off to Innovation Week, YPO members will have a special welcome by Chairman of CES and YPO member, Dave Hagan. In addition, Techstars will offer members access to the latest in tech innovation at its global start-up pavilion. The 2017 YPO Global Innovation Award winner Michael Golway, President and CEO of Advanced Solutions, Inc., will present the latest advances in the integrated solution of BioAssemblyBot® and TSIM, a 6-Axis Robotic 3D Printing System for Human Tissue Structures.

For one week in May 2018, YPO will host Innovation Week, a series of more than 50 events around the world designed to bring together the world’s most dynamic innovators, disruptors and leaders for a chance to connect, challenge conventional thinking and gain actionable insight. Business leaders and pioneering thinkers will engage in a weeklong forum discussing the most important innovations affecting business today, including augmented and virtual reality, vehicle technology, digital imaging, wearables, smart home, sensors and more.

YPO members will host innovation events across the globe in Melbourne, Australia; London, England; Tel Aviv, Israel; New York, New York; Santa Domingo, Dominican Republic; Silicon Valley, California; Nairobi, Kenya and more 7-11 May 2018. The mission of YPO Innovation Week is to drive innovation across a diverse range of industries through signature events, live two-way interactive video casts and livestream events across more than 30 countries.

“Every business leader needs to focus on innovation to grow and thrive,” says YPO Innovation Week Chair Keith Alper, Founder and CEO of GenieCast. “YPO Innovation Week will provide hundreds of opportunities for members to learn from each other and from the most well respected global innovators, disrupters, inventors to help integrate innovation at the most strategic level across all businesses. Combining research, technology and business leadership, Innovation Week is the one place where the world’s most innovative companies share their inspiration and insights.”

YPO Innovation Week offers YPO business leaders with learning and networking opportunities to infuse innovation into their companies, form strategic partnerships, and positively affect their businesses and the communities in which they work. YPO leaders will be able to leverage new partnerships in innovation, infuse innovation into the heart of their company culture, and convert ideas into actionable plans. YPO Innovation Week has become a global stage where next-generation innovations are welcomed, and the latest trends in innovation are adopted.

The week will feature idea jams, workshops, live-streamed panels, insider company tours, global conference calls, TED-style presentations and debates. Combining research, technology and business leadership, YPO Innovation Week is the premier showcase for the world’s most innovative companies to share their inspiration and insights.

YPO is the global platform for chief executives to engage, learn and grow. YPO members harness the knowledge, influence and trust of the world’s most influential and innovative business leaders to inspire business, personal, family and community impact.

Today, YPO empowers more than 25,000 members in more than 130 countries, diversified among industries and types of businesses. Altogether, YPO member-run companies employ more than 16 million people and generate USD6 trillion in annual revenues.

YPO is launching the third annual YPO Innovation Week at the 2018 Consumer Electronics Show (CES) in Las Vegas, Nevada, USA, the proving ground for innovators and breakthrough technologies for 50 years. YPO’s program focuses on emerging technologies and new breakthroughs transforming a wide range of industries today.

At the 2018 Innovation Week launch event, YPO members will have a special welcome by Chairman of CES and YPO member Dave Hagan. In addition, Techstars is offering members access to the latest in tech innovation at their global startup pavilion. The 2017 YPO Global Innovation Award winner, Michael Golway, President and CEO of Advanced Solutions Inc., will present the latest advances in the integrated solution of BioAssemblyBot® and TSIM, a 6-Axis Robotic 3D Printing System for Human Tissue Structures. Serial entrepreneurs Mike Maddock and Vicki Mayo also are speakers at the program.

On 7-11 May, YPO Innovation Week will bring together members for a series of more than 50 events designed to connect the world’s most dynamic innovators, disruptors and leaders for the chance to challenge conventional thinking and gain actionable insight. Business leaders and pioneering thinkers will engage in a week-long forum discussing the most important innovations affecting business today, including augmented and virtual reality, vehicle technology, digital imaging, wearables, smart home, sensors and more.

“Every business leader needs to focus on innovation to grow and thrive,” says YPO Innovation Week Chair Keith Alper, Founder and CEO of GenieCast. “YPO Innovation Week will provide hundreds of opportunities for members to learn from each other and from the most well respected global innovators, disrupters, inventors to help integrate innovation at the most strategic level across all businesses. Combining research, technology and business leadership, Innovation Week is the one place where the world’s most innovative companies share their inspiration and insights.”

YPO Innovation Week offers YPO business leaders learning and networking opportunities to infuse innovation into their companies, form strategic partnerships, and positively affect their businesses and the communities in which they work. YPO leaders will be able to leverage new partnerships in innovation, infuse innovation into the heart of their company culture and convert ideas into actionable plans. YPO Innovation Week is the premier showcase for the world’s most innovative companies share their inspiration and insights.

]]>https://www.ypo.org/2018/01/third-annual-ypo-innovation-week-launches-consumer-electronics-show/feed/0Effective Leaders Don’t Forget to Movehttps://www.ypo.org/2018/01/effective-leaders-dont-forget-to-move/
https://www.ypo.org/2018/01/effective-leaders-dont-forget-to-move/#respondMon, 08 Jan 2018 19:46:19 +0000http://www.ypo.org/?p=75827Humans are made to move which is clear by the huge number of benefits exercise has for mind and body. And multisport training can be key to keep you motivated and in shape.

Humans are made to move. This is clear by the huge number of benefits exercise has for mind and body.

“There is a linear relation between physical activity and health status; an increase in physical activity and fitness directly improves your health status,” says Craig Nossel, head of Discovery Vitality Wellness in South Africa.

“Exercise can easily get boring or routine,” notes Steph Donaldson, Discovery Vitality biokineticist. “The multidisciplinary nature of triathlons keeps training interesting and challenging. Plus, the variety of racing distances makes it accessible for all fitness levels: from kids’ races and sprint distances right through to ultra-distance races.” In short — multisport offers something for everyone.

Multisport also has a great social element. Family and friends can get involved, which is a great motivator to keep you exercising.

There are many health and fitness benefits of multisport training. These include:

Full body strengthening: Each aspect of a triathlon offers its own health benefits. Swimming creates definition in your upper body and improves flexibility; running develops long and lean muscles; and cycling tones the lower body while building strength.

Strengthens bones: People who run often have a higher bone density than those who don’t. That’s because the body increases the density of bones in an effort to accommodate for the impact of running. Running boosts bone strength and development more than cycling or swimming do.

Improved health: A regular combination of swimming, cycling and running can help you lower your blood pressure; prevent diabetes, obesity, cardiovascular diseases and cancer; as well as lower the risk of osteoporosis or depression.

A workout for the arteries: The inner lining of artery walls can be damaged by factors like high blood pressure, high cholesterol, diabetes, smoking and the wear and tear of ageing. Injured spots in the lining, in turn, are often the starting points for the growth of plaques that can block arteries, leading to a heart attack. Researchers believe that the regular expansion and contraction of arteries during exercise keeps the blood vessels “in shape” and preserves their inner lining.

Mental health: When you begin to improve your health, you also start to improve your perspective on what you can achieve and how far you can push yourself. You will begin to notice an increased level of self-confidence and a difference in the way others perceive you.

Quick tip: You get a sense of achievement by completing a race, improving your overall fitness levels and progressing to the next racing distance. These feats help to improve your self-confidence and self-image.

More energy: A dramatic increase in your exercise and the change in your diet will help to heighten your energy levels and improve productivity. Although some training sessions will be grueling, and you will obviously be tired afterwards, your overall energy levels will be much higher.

“We’ve invested in multisport to encourage greater activity levels, especially among novice athletes. The beauty of multisport is that anyone can do it. There are events to suit all ability and fitness levels, and it’s a great way for families to spend time together having fun,” says Nossel.

“Many studies have shown that maintaining a minimum quantity and quality of exercise decreases the risk of death, prevents the development of certain cancers, lowers the risk of osteoporosis and increases longevity. Training programs should include exercises aimed at improving cardio-respiratory fitness and muscle function, as well as flexibility and balance,” adds Nossel. “Multidisciplinary sports can be a great way to accomplish these health and well-being benefits.”

]]>https://www.ypo.org/2018/01/effective-leaders-dont-forget-to-move/feed/0The Advantages of Partnering in Business With Your Absolute Oppositehttps://www.ypo.org/2018/01/advantages-partnering-business-absolute-opposite/
https://www.ypo.org/2018/01/advantages-partnering-business-absolute-opposite/#respondFri, 05 Jan 2018 22:29:27 +0000http://www.ypo.org/?p=75804Don't run from your absolute opposite when looking for a business partner -- run toward that person! Learn how partnering with your polar opposite can lead to business success.

]]>By Andreas Souvaliotis, YPO member and Founder and CEO of CARROT Rewards

Two and a half years ago, just as I was launching my latest business, CARROT Rewards, I stepped into an MBA class at one of the most prestigious business schools in Canada. A few hours later, I walked out with a fresh grad, a woman half my age, as my co-founder.

I was judging Sarah Richard’s new venture project presentation that day at the Ivey Business School at the University of Western Ontario. She was pitching an idea that seemed particularly gorgeous and exciting to me, perhaps because it was so dangerously similar to the foundation of my brand-new business. I was busy building a national wellness rewards platform — a mobile app that would reward millions of Canadians for living healthier; she was dreaming about creating an app that would reward people for not texting while driving.

Up until I walked into that classroom, I thought I already had everything I needed to build another successful business — I had the niche idea, the backers, the clients and the technology suppliers. But then I listened to Sarah’s incredible pitch. Suddenly I was craving the wisdom, the focus, the fearlessness and the passion of that incredibly “plugged in” millennial in front of me.

We haven’t looked back since. The deal was done in a day; she joined the business when she graduated and, together, we built CARROT into a national (and soon global) success story. Everyone around us — clients, employees, investors, suppliers, friends — they all watch us and talk about us with endless fascination, because we truly look like the ultimate startup odd couple. Apart from the startling age difference, we are such extreme opposites: she is painfully methodical, I am all impulse; she is all digital, I am so last-century; she lives for consensus while I simply push. But we both dream; we both drive; and we both love to argue.

Here’s a quick peek at how we’ve made it work:

We talk (a lot): We’ve built a company of talkers. The traditional tools (like email, phone, team meetings etc.) weren’t even enough for the amount of communication we needed to have, so — at my passionate co-founder’s insistence — we introduced the Slack messenger app as the main “social network” inside our business. We’re all hooked on it. Everything, from project plans to data reports to client announcements to media clippings all the way down to in-office gossip flows through Slack … and there’s no such thing as Slack down time. If I ever need to reach Sarah urgently, I don’t phone, text or email her — I just ping her on Slack and we’re on it right away.

We stay aligned: We are both acutely aware of the impact of our personalities on the business and understand the importance of presenting an authentically united front for our team. Though we give each other leeway in terms of how we go about achieving objectives, we ensure that we’re completely aligned on the dream and the big direction. There is never a question about priorities because each of us knows what the other is focused on. We may look and sound and behave very differently from each other, but the whole world around us knows that we’re partners.

We keep it positive (and productive): While we both thrive on optimism and positivity, we’re not immune to the endless stress that comes with building something so new and so high profile from the ground up. From managing development delays with our app, to working through complicated client deals, creating the most popular wellness app in our country took a great deal of grit. We’ve had plenty of ugly, scary, demoralizing and exhausting days along the way — but we share a similar mentality that even during the toughest times, we need to always be everyone else’s jet fuel. Stress and pressure can often accentuate the differences between our thinking and behavioral styles, but we know that our ultimate job is to lead the business and serve as real role models — and we do that with a consistent high dose of “relentless calm.”

We started with trust and just kept building on it: We realized early on that in a startup environment, moving at “CARROT Speed” as we call it, there was not going to be time to let trust develop naturally. It was too risky, and there was just too much at stake, so we needed to make it deliberate. We took the plunge from day one and quickly realized how much fun it was to essentially trust a stranger. We literally learned about each other on the job and we even used some of the trust techniques I mastered in my YPO forum — we never lived in fear of the other and we never failed each other in that sense. When we did a joint radio interview recently, we were practically finishing each other’s sentences. Two and a half years into it, we’re as impenetrable and as efficient as it gets.

Above all, we learn from each other by challenging each other: We argue (privately) more than anyone can imagine. We’re both proud, passionate, stubborn, opinionated and reasonably smart (she certainly is!). And our perspectives, styles and worlds are so different from each other’s that we gain an incredible amount every single day by challenging each other. That magical push and pull in our partnership serves like a multiplier of our respective strengths. She helps me grow and I help her grow up. We constantly teach each other to learn or unlearn behaviors that matter for the culture of the company. We startle each other with ideas, fascinate each other with our different reactions to those ideas and help make each other a wiser, cooler, sharper leader every day.

A big slice of the success of our unique business comes from my early decision to pair up with the most unlikely of co-founders. It was one of the most beautiful, exciting, scandalizing and ultimately rewarding gambles in my career and it helped us both grow and grow up in truly spectacular ways. Whoever first coined that old cliché about opposites attracting must have been running a cool startup.

Consider the last time you attended a company training session such as onboarding, a sales kickoff or another corporate event. Now, compare that to your high school or college learning experience. Chances are, the two are vastly different. Students don’t become subject matter experts from simply attending a lecture. When juxtaposed against traditional education, it’s easy to see what’s missing in the working world: Where is the follow up? The tests and quizzes on the material? The studying and homework? In most cases, this type of sales learning simply doesn’t exist and training programs suffer as a result.

The training challenge

U.S. companies spend an estimated USD20 billion on training annually. For sales organizations, much of this funding is spent on elaborate events where participants are flown in, force-fed a steady diet of PowerPoints and then sent off with little or no follow-up. Not surprisingly, the ROI simply isn’t there — in fact, studies indicate that participants in curriculum- and lecture-based training forget more than 80 percent of the information taught within 90 days.

Given the time and money invested in sales training, it’s not a question of insufficient effort or investment. Rather, the fundamental problem is the very structure of corporate training delivery: intense yet infrequent bursts, such as annual sales kickoffs, or lengthy, one-size-fits-all courses. Curriculum-based training and events are important, but they are foundational and should be treated as such, giving way to longer-term learning programs that reinforce and solidify knowledge.

When sales organizations rely on text-heavy, one-time events, they subject their reps to a well-studied phenomenon known as “The Forgetting Curve,” which says that knowledge retention steadily declines in the absence of continued exposure. In fact, as much as 50 to 80 percent of material can be lost as soon as the day after initial exposure and up to 98 percent within 30 days. Even if sales reps understand everything taught during a training session, chances are they will have forgotten most of the content when they go to apply it. This is because baseline training courses only put new information into the short-term memory. People easily remember the facts and concepts they focus on frequently, yet forget what they touch upon less often.

If the forgetting curve represents the function of a normal, healthy mind, what can sales trainers do to combat it?

Using repetition and reinforcement in sales training

Taking cues from higher education, sales organizations can create successful programs that help reps to learn and retain knowledge effectively. These programs should provide reps with ubiquitous access to materials, including supplemental resources that reinforce what’s already been taught. Additionally, these programs should deliver learning in bite-sized chunks that are repeated over time, helping to move knowledge into the long-term memory.

Available technologies such as mobile devices and video and audio recording capabilities can transform antiquated and episodic training techniques into modern, continuous learning experiences. Below are examples of the technologies and techniques organizations can use to improve knowledge retention:

Reinforce new learning — A technique involving the periodic reinforcement of new learning, called spaced repetition, prevents the forgetting curve by moving new knowledge into long-term memory. The brain determines which information is most important by registering how often it’s presented. Therefore, the more we revisit a concept, the more we strengthen the information pathways for future recall.

Organize information into bite-sized pieces — Presenting information in small chunks reduces cognitive load and gives learners a sense of empowerment. Known as microlearning, this type of content sharing describes any learning model that operates on the principle that people learn more effectively when content is broken into smaller units and delivered in short sessions. Since learners can review information on their own schedule, it’s much easier for them to engage throughout a busy week — even for just a few minutes between meetings or calls.

Reach reps when they want to learn — Sitting in a classroom far away from the time and place learning will be used is not conducive to knowledge retention. Instead, just-in-time learning gives sales reps continuous access to training materials and content they can access at the exact time of need — usually at deal time — when they’re most motivated to learn.

Engage multiple senses — Multimodal learning refers to techniques that use multiple representations of information such as text, audio and visuals to improve retention. Research shows using pictures along with words improves retention, and people learn even more effectively when audio is included in the mix. For example, when people hear information, they usually only recall about 10 percent three days later. However, adding visuals increases the retention rate to 65 percent.

Video can play a key role in sales training programs and is especially valuable to millennial workers, who now comprise the largest segment of the workforce. Millennials grew up watching “how-to” videos on YouTube and are bringing this preference for video learning to the enterprise. In fact, not only do millennials prefer video as a training tool, but studies have shown that that 87 percent would choose to work for a video-enabled organization over one that has not invested in it.

Once sales trainers understand the way the brain learns, organizations can implement practices and technology that take advantage of the strategies outlined above. Supplementing traditional classroom training with just-in-time and reinforcement learning makes training more convenient, engaging and effective, and ultimately results in greater sales training ROI.

YPO member Yuchun Lee is CEO and Co-founder of Allego, a software company focusing on transforming corporate learning and development. Lee is also the executive chairman of Clarabridge, a customer-experience management software company. Lee also co-founded Unica, which he guided through a successful IPO and sale to IBM for more than USD500 million. He is an executive in residence at General Catalyst Partners, a venture firm; he serves on the board of Vertex Pharmaceuticals (NASDAQ: VRTX), an S&P-500 pharmaceutical company, and as an executive advisor with Summit Partners, a global venture and private equity firm.